Watch part 1 of the interview:    • Peter Schiff: Fed is trapped; will ei...  

Peter Schiff has been a vocal opponent of Bitcoin, but in an interview with Kitco News on Wednesday, he said there is a form of cryptocurrency that he could potentially support.

The chief market strategist of Euro Pacific Asset Management told Kitco News that a “legitimate” cryptocurrency is a goldbacked token that could replace fiat currencies in utility.

0:00 Why is Peter Schiff's son invested in Bitcoin?
4:46 People who have changed their minds on Bitcoin
9:00 Gold vs. Bitcoin
11:14 "The only cryptocurrencies that would make sense"

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